Reserves cross $16 billion mark by week-end

The country''s total liquid foreign reserves crossed $16 billion mark by end of the last week. According to State Bank of Pakistan, the country''s total liquid foreign reserves stood at $16.137 billion level as on February 27, 2015 compared to $15.944 billion as on February 20, 2015, depicting an increase of $193 million.
During the week under review, SBP''s liquid forex reserves increased by $132 million to $11.207 billion, compared to $11.075 billion in the previous week. During the week, SBP received $51 million from International Development Association (IDA). Moreover, reserves held by the banks posted an increase of $61 million to $4.929 billion by end of the last week.